New Delhi, Feb 26 (SocialNews.XYZ) With 9,000 biotech startups, India has emerged as a global biotech innovation hub, said Dr. Jitendra Singh, Union Minister of State (Independent Charge) for Science and Technology, on Wednesday.
He said this while undertaking a review of research facilities at CSIR-Institute of Microbial Technology (CSIR-IMTECH), Chandigarh.
"The number of biotech startups in India has grown exponentially from just 50 in 2014 to nearly 9,000 today, solidifying India's position as a global hub for biotech innovation," Singh said.
He informed that India now ranks third in the Asia-Pacific region and 12th globally in bio-manufacturing, underscoring the increasing importance of research in microbial genetics, infectious diseases, fermentation technology, environmental microbiology, and bioinformatics.
At the Institute, he also inspected a microbe repository and took updates on ongoing projects.
"Microbial technology is a crucial pillar of biotechnology," the MoS said, while emphasising its growing significance in shaping the next generation industrial revolution.
Crediting Prime Minister Narendra Modi for the groundbreaking New BioE3 Policy, which places a renewed focus on biomanufacturing and bio foundries, Singh underscored India's rapid progress in the biotech sector.
“India’s bioeconomy has witnessed an extraordinary surge from $10 billion in 2014 to over $130 billion in 2024, with projections to reach $300 billion by 2030,” he added.
Further, the Minister connected virtually with CSIR-Institute of Himalayan Bioresource Technology (CSIR-IHBT), Palampur, to inaugurate several new facilities and participate in critical scientific discussions.
He joined the EMBO Workshop on High Elevation Plant Adaptation in a Changing Climate (HEPACC) and the Industry, Farmer & Academia (IFA) Meet, inaugurated a New Tulip Garden at Palampur in Himachal Pradesh, and launched products developed by agri-startups that have been supported by the institute, fostering innovation in the agricultural sector.
"By integrating scientific research, industry collaboration, and government policies, the rich biodiversity of Himalayan states can be harnessed for economic prosperity," Singh said. He added that it will also benefit farmers and advance India’s scientific ecosystem.
Source: IANS
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